Economists classify production funtions as possessing constanct, decreasing, or increasing returns to scale. Yet, from a cause and effect point of view, it is not readily apparent why decreasing returns to scale should ever exist. That is, if we duplicate an activity we ought to get duplicate results. Hence, if we truly duplicate all of the inputs, we ought to get double the output. Can you reconcile the apparent contradiction between this logic and the expectation of the economist that beyond certain output ranges firms will confront decreasing returns to scale?

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Decreasing returns to scale are technological conditions under which a given percentage increase in all the firm's inputs results in the firm's output increasing by a smaller percentage. In the Figure, moving from x2 to x3, the production function is concave, so that by doubling inputs we less than double output. One possible justification is that the size of production has overstretched itself. The advantages of specialization are being outweighed by the disadvantages of managerial ...

Give an example of a non-rectifiable closed Jordan curve on the interval -1<=t<=1.
My thought: t + i(sin 1/t) + ?????
Please advise what curve I can add to make this work. Or, if this will not work, please provide an example of a non-rectifiable closed Jordan curve on -1<=t<1.

Calculate the area under the curve y=1/(x^2) above the x-axis on the interval [1, positive infinity].
keywords: finding, find, calculate, calculating, determine, determining, verify, verifying

Is a consumer better off at a lower point on a higher indifference curve than a higher point on a lower indifference curve? I understand the answer is yes, but I dont understand why....Need a detailed explanation...

The question asked that suppose that the Organization of Petroleum Exporting Countries raises oil prices by 50 percent in 2005. What effect will thishave on the U.S. Aggregate demand curve? On the U.S. Short-run aggregate supply curve?

Tony's Lawn Service uses only one variable input, fertilizer. The firm's demand curve for fertilizer in the short run is the input's?
a) total product curve.
b) marginal product curve.
c) marginal revenue product curve.
d) total cost curve.

(a) Answer true or false to each of the following statements
(i) Two normal distributions that have the same mean are centered at the same place, regardless of the relationship between their standard deviations.
(ii) Two normal distributions that have the same standard deviation have the same shape, regardless of the relatio

The supply curve for product X is given by QXS = -480 + 20PX .
a. Find the inverse supply curve.
P = ____ + Q_____
b. How much surplus do producers receive when Qx = 320? When Qx = 940?
When QX = 320: $
When QX = 940: $